https://www.taxtmi.com/caselaws?id=437549 The Appellate Tribunal ITAT Mumbai ruled in favor of the Assessee in a case involving the treatment of excess stock discovered during a survey at the business premises. The Tribunal held that the excess stock, declared as business income, did not qualify as undisclosed investment under section 69 or justify invoking section 115BBE. This decision underscores the need to differentiate between undisclosed investment and undeclared business income for precise tax assessments, ensuring equitable tax liability determinations. en-us Tue, 11 Apr 2023 00:00:00 +0530 Tue, 09 May 2023 08:06:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=437549 The Appellate Tribunal ITAT Mumbai ruled in favor of the Assessee in a case involving the treatment of excess stock discovered during a survey at the business premises. The Tribunal held that the excess stock, declared as business income, did not qualify as undisclosed investment under section 69 or justify invoking section 115BBE. This decision underscores the need to differentiate between undisclosed investment and undeclared business income for precise tax assessments, ensuring equitable tax liability determinations. Case-Laws Income Tax Tue, 11 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=437549